MTH GROUP: MT Højgaard Group's activities at Thule may be extended

MT Højgaard confirms public statements that the US Air Force has indicated that it wants to extend its contract with Greenland Contractors.

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Greenland Contractors I/S, which is owned by MT Højgaard (67%) and the Parliament of Greenland (33%), participated in 2014 in a tender for a new contract to operate and maintain the Thule Air Base in Greenland. In May 2015, the US Court of Federal Claims ordered that the company that won the tender cannot be awarded the contract. See MT Højgaard's announcement of 28 May 2015.

As a result, the US Air Force has indicated that it wants to extend the contract with Greenland Contractors under a new interim agreement effective from the previously agreed termination date of 30 September 2015.

A potential interim agreement between the parties is expected to be made on terms, which will differ from the current contract. At present, is it not possible to estimate to what extent this change may have an effect on the Group’s financial guidance.

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